went under contract in the beginning of the year
While the property is no longer under contract, we are continuing to negotiate with the previous purchaser to amend the contract, while we market the property to sale to alternative buyers. We now expect the closing of Storey Park to occur later in 2016. We believe the sale to the previous purchaser is the best outcome, which is why we're willing to take a bit more time to execute this transaction.
went under contract in the beginning of the year
While the property is no longer under contract, we are continuing to negotiate with the previous purchaser to amend the contract, while we market the property to sale to alternative buyers. We now expect the closing of Storey Park to occur later in 2016. We believe the sale to the previous purchaser is the best outcome, which is why we're willing to take a bit more time to execute this transaction.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
